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National Bank for Agriculture and Rural Development Act, 1981


6. Board of Directors.-

1.     The Board of Directors of the National Bank shall consist of the following, namely:--

a.     a Chairman;

b.    two directors from amongst experts in rural economics, rural development, handicrafts and other rural crafts, village and cottage industries and small-scale industries or in any other matter, the special knowledge or professional experience in which is considered by the Central Government as useful to the National Bank;

c.     three directors out of whom two shall be persons with experience in the working of co-operative banks and one shall be a person with experience in the working of commercial banks;

d.    three directors from out of the directors of the Reserve Bank;

e.     three directors from amongst the officials of the Central Government;

f.     two directors from amongst the officials of the State Governments; and

g.    a Managing Director.

2.     The Chairman and other directors shall be appointed by the Central Government in consultation with the Reserve Bank:

Provided that no such consultation shall be necessary in the case of directors appointed under clause (e) of sub-section (1).

3.     Where the Central Government is satisfied, in consultation with the Reserve Bank that it is necessary so to do, it may appoint one or more whole-time directors with such designations as may be deemed appropriate by that Government and any whole-time director so appointed shall also be a member of the Board:



National Bank for Agriculture and Rural Development Act, 1981 Back




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